This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a firm is producing where MR> MC (Read 18 times)

mp14

  • Hero Member
  • *****
  • Posts: 534
on: Apr 19, 2019

Question 1

If a profit-maximizing firm is currently producing where 
MR = 
MC, it should


◦ increase output so that marginal revenue is less than marginal cost.
◦ decrease output so that marginal revenue will be greater than marginal cost and the firm's profit will increase.
◦ not change because it is already maximizing profit.
◦ exit the industry.

Question 2

If a firm is producing where 
MR > 
MC


◦ the revenue gained by producing one more unit of output exceeds the cost incurred by doing so.
◦ the revenue gained by producing one more unit of output equals the cost incurred by doing so.
◦ the revenue gained by producing one more unit of output is less than the cost incurred by doing so.
◦ the firm is already maximizing profits because revenue is being increased by more than costs.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by mp14 on Apr 19, 2019

recede

  • Sr. Member
  • ****
  • Posts: 315
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


mp14

  • Member
  • Posts: 534
Reply 2 on: Apr 19, 2019
Wow, this really help

nanny

  • Member
  • Posts: 313
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

An orb weaver producing silk from its spinnerets An orb weaver producing silk from its spinnerets
A subdural hematoma. A meningeal vein is ruptured and blood has accumulated in the subdural space, p A subdural hematoma. A meningeal vein is ruptured and blood has accumulated in the subdural space, p
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
The retrograde amnesia and anterograde amnesia associated with a concussion-producing blow to the ... The retrograde amnesia and anterograde amnesia associated with a concussion-producing blow to the ...
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ... The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
Management Information Systems: Managing the Digital Firm, 15th Edition Management Information Systems: Managing the Digital Firm, 15th Edition
Video: What are Taste Receptors? How Does it Work? Animation

For a complete list of videos, visit our video library